About this number
Normalized PSF uses Bala's Table - the Singapore Land Authority differential premium reference for valuing leasehold against freehold. Bala values a fresh 99-year lease at 96% of freehold; the curve drops non-linearly, reaching ~75% at 50 years remaining and ~60% at 30 years.
Below 40 years remaining we stop normalizing because the curve diverges from market reality once CPF withdrawal restrictions and bank LTV cliffs dominate.
A separate 5% adjustment applies to projects whose lease commenced before 2023, reflecting the older strata-area measurement convention (which counted air-con ledges and bay windows).
Source: Singapore Land Authority differential premium reference (Bala's Table).
Transaction prices per square foot
| Project | Dist | Region | Bed | Floor | Area | Price | PSF | 99yr Norm | Date | Type |
|---|---|---|---|---|---|---|---|---|---|---|
| ONE ST MICHAEL'S | 12 | RCR | 3* | 06-10 | 936 | $1,540,000 | $1,644 | $1,644 | Mar 2026 | Resale |
| ONE ST MICHAEL'S | 12 | RCR | 3* | 21-25 | 936 | $1,500,000 | $1,602 | $1,602 | Dec 2025 | Resale |
| ONE ST MICHAEL'S | 12 | RCR | 3* | 16-20 | 1,184 | $2,238,000 | $1,890 | $1,890 | Nov 2025 | Resale |
| ONE ST MICHAEL'S | 12 | RCR | 3* | 21-25 | 1,249 | $2,350,000 | $1,882 | $1,882 | Nov 2025 | Resale |
| ONE ST MICHAEL'S | 12 | RCR | 3* | 21-25 | 936 | $1,550,000 | $1,655 | $1,655 | Dec 2024 | Resale |
| ONE ST MICHAEL'S | 12 | RCR | 3* | 01-05 | 1,184 | $2,039,888 | $1,723 | $1,723 | Oct 2024 | Resale |
| ONE ST MICHAEL'S | 12 | RCR | 4* | 06-10 | 1,259 | $2,130,000 | $1,691 | $1,691 | Aug 2024 | Resale |
| ONE ST MICHAEL'S | 12 | RCR | 3* | 06-10 | 936 | $1,445,000 | $1,543 | $1,543 | Mar 2024 | Resale |
Normalized via Bala's Table (SLA differential premium curve). Fresh 99yr lease ≈ 96% of freehold; below 40yr we don't normalize.